No Elvis Casino In Las Vegas

[Elvis.com]

Bob Sillerman, the billionaire entertainment mogul who owns the rights to Elvis Presley's Graceland, Muhammad Ali and a big share of Simon Fuller's hit TV show "American Idol," is getting out of the real-estate...

Link To Original Article (http://www.elvisnews.com/news.aspx/no-elvis-casino-in-las-vegas/11879)

[TCB4ELVIS]

Very disappointed(n):king:

[Getlo]

"I think I have shown conclusively that I am not knowledgeable enough about the real-estate business," Sillerman told The Post in an exclusive interview. "I think I should leave it to other people to pursue."

Really, Bob? We could have told you this in the beginning!

Didn't I - and many other posters here - say a couple of years ago that the sale to CKX would eventually unravel in some way? While this isn't the end of the venture, it is clear that EPE tying itself to CKX will eventually prove to be a bad thing overall.

Oh, Kiki where art thou?! :lmfao:

As for the casino falling through, I'm not disappointed in the least.

An Elvis casino in Las Vegas? Tacky, tacky, tacky ... and it would have been the final reduction of Elvis Presley to just a commercial product.

[vivalasvegas]

An Elvis casino in Las Vegas? Tacky, tacky, tacky ... and it would have been the final reduction of Elvis Presley to just a commercial product.

i like the way you put that. it resolves some uncomfortableness i had. now i know how to describe a reason. :)

for me, elvis is AT THE HILTON, his memory is kept there, and that's been good enough for me.

[Jungleroom76]

Can't say that this news comes as any real surprise... :doh:

Now the question becomes...what will happen to Sillerman's relationship with EPE? Since Sillerman has lost so much money in these two failed business ventures, will he consider selling his interest in EPE to recoup some of the money he lost?? Perhaps that wouldn't be such a bad idea, given how CKX is looking right now. Having CKX tied to EPE might wind up being a bad thing for EPE down the road, if CKX doesn't sell off its interests in EPE?? :hmm:

TCB!
Mike

[Getlo]

Now the question becomes...what will happen to Sillerman's relationship with EPE?

Two words for ya:

1. Crash.
2. Burn.

[Jungleroom76]

Two words for ya:

1. Crash.
2. Burn.

That's what I was afraid of... :doh:

...and now the next question is, what will happen with EPE when that finally happens??? :hmm:

TCB!
Mike

[Brian]

That's what I was afraid of... :doh:

...and now the next question is, what will happen with EPE when that finally happens??? :hmm:

TCB!
Mike

I don't think EPE is in danger of going bankrupt yet but it could end up that way sooner or later if things keep going the way they are.
If it does go bankrupt Lisa will lose a lot of money

Now Sillerman could sell everything back to Lisa if he does decide to sell his interests.

If he were to sell to someone other than Lisa what happens would depend on what that person plans to do.

My guess would be though that if he decides to sell everything he will offer Lisa the opportunity to buy everything back first.

[Jungleroom76]

I don't think EPE is in danger of going bankrupt yet but it could end up that way sooner or later if things keep going the way they are.

Perhaps, but wasn't that the reason that EPE entered into the partnership with Sillerman...because the estate needed an infusion of revenue to do some of the things that they wanted to do, like the proposed enhancements around Graceland?? :hmm:

My guess would be though that if he decides to sell everything he will offer Lisa the opportunity to buy everything back first.

That would be my guess as well, but if Sillerman does that, then EPE is right back where they started before the whole Sillerman deal, which I don't think was a very good position...

Then, if that situation takes place, EPE will probably be gun-shy to get involved with another investor, which means things will probably get worse for EPE...then they'll wind up charging $500 per ticket for the tour!!! :doh: ;)

Seriously though...this is a BIG problem for EPE...one that doesn't appear to have a positive side at this time, in my opinion... (n)

TCB!
Mike

[Getlo]

Sillerman's business history was iffy at best, so EPE should have known better.

He is more of a businessman than a music fan anyway; and - despite what our late and not-lamented poster Keke (or whatever his/her name was) said, his overall intention was to turn Graceland into a type of Disneyland.

This has certainly happened since the sale to CKX. Slowly but surely, the magic of Graceland has disappeared.

Just as I and many other worried fans predicted. My advice is see Graceland now before it's too late.

As for EPE, they need to find a partner more appropriate. Or find a better way to operate by themselves. I'm no businessman, so don't ask me for ideas though ...

EPE has to realise that Graceland can't possibly continue forever as it is now, ie attracting so many visitors each year. Within a generation, the house will become less popular for visitors - as Elvis Presley The Entertainer slips slowly away from living memory - so plans should be put in place over the next 20-30 years to ensure its future as a proper historic estate after most of us have passed.

It will, of course, eventually be closed to the public and possibly returned to the city as an historic site. Not in our lifetimes, probably. But definitely one day.

And the music is running out as well. There's not a huge amount left, and very few "new" things to entice fans. Oh, except for the ever-more-boring soundboard shows of course!

[Tommy]

Sillerman's business history was iffy at best, so EPE should have known better.

He is more of a businessman than a music fan anyway; and - despite what our late and not-lamented poster Keke (or whatever his/her name was) said, his overall intention was to turn Graceland into a type of Disneyland.

This has certainly happened since the sale to CKX. Slowly but surely, the magic of Graceland has disappeared.

Just as I and many other worried fans predicted. My advice is see Graceland now before it's too late.

As for EPE, they need to find a partner more appropriate. Or find a better way to operate by themselves. I'm no businessman, so don't ask me for ideas though ...

EPE has to realise that Graceland can't possibly continue forever as it is now, ie attracting so many visitors each year. Within a generation, the house will become less popular for visitors - as Elvis Presley The Entertainer slips slowly away from living memory - so plans should be put in place over the next 20-30 years to ensure its future as a proper historic estate after most of us have passed.

It will, of course, eventually be closed to the public and possibly returned to the city as an historic site. Not in our lifetimes, probably. But definitely one day.

And the music is running out as well. There's not a huge amount left, and very few "new" things to entice fans. Oh, except for the ever-more-boring soundboard shows of course!

Agreed, but I don't think Graceland will ever be closed to the public. My wish is that someone could purchase it back from CKX that is an Elvis fan.

[Getlo]

I don't think Graceland will ever be closed to the public.

Perhaps. But it will eventually become something like Washington's home, visited by comparitively fewer people as the generations go by.

A true historic attraction.

[Brian]

Perhaps, but wasn't that the reason that EPE entered into the partnership with Sillerman...because the estate needed an infusion of revenue to do some of the things that they wanted to do, like the proposed enhancements around Graceland?? :hmm:

TCB!
Mike

Well I got a question about that if Lisa and EPE objective was to buy up more of the surrounding area around Graceland so they could set up more attractions and exhibits to get more visitors to come there or to keep coming why did they need Sillerman in the first place?
Lisa is worth 350 million surely she could've afforded to buy up the surrounding area's around Graceland.
I didn't like any of Sillerman's other plans I thought they were nothing great.

[Junebug]

Oh well, ...... at least Ryan Seacrest was able to seal his $15 mill deal with CKX!

Here's some information I thought was rather interesting from a June 5, 2009 article in the Las Vegas Sun:

]"FX [/B]had been promoting plans to build properties with Elvis Presley and Muhammad Ali themes and has been paying royalties to Elvis Presley Enterprises and Muhammad Ali Enterprises. Those licensing deals were canceled this year amid FX's financial troubles.
The Las Vegas property, once planned for an Elvis Presley resort, consists of six parcels totaling 17.72 acres that have in recent years been occupied by small retailers and restaurants, such as the Harley-Davidson Cafe and Smith & Wollensky, as well as a Travelodge hotel.

Because of a write-down on the value of its Las Vegas holding, and the licensing fees paid to the Presley and Ali companies, FX said it lost $462 million on revenue of $6 million in 2008.

Complete article:

http://www.lasvegassun.com/news/2009/jun/05/elvis-themed-casino-out-lenders-want-strip-propert/

(not sure I did the link right!)